Imo it's more so that crypto was the purest, most distilled form of capitalism. Finance so far abstracted from any real world value that it looked rightfully absurd to onlookers. Pure ownership, zero labor. All that matters is number go up, substance be damned.
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take solace in the fact this bubble is just bursting soon and its gonna come crashing down hard.
i feel for all the lives its gonna destroy along with itself tho
Happy Lemmy birthday
i remember when reddit disabled 3rd party clients, many lemmy birthdays around this time.
I feel you on this post, I wouldn't put it in badposting. It's worth pointing out. Companies that used to make X now make Y (not inherently bad but usually it is in this system) or now they make a shittier version of X. It's just brand name.
Which, speaking of Tesla and by extension everyone's favorite K-holed asshole, is one of the funniest parts of the twitter buyout. The name change. The brand recognition alone was the real value because the website was shit from a dog. But, being a captain of industry had to change it to satisfy his adolescent obsession with a letter. Consequences be damned. And the billions lost in that endeavor? Forgettable. It's just more ones and zeroes in the banking cloud. More numbers on screens. So detached from tangible reality they are closer to videogame scores. Definitely adjacent to crypto. So I agree with your sentiment here.
Companies that used to make X now make Y (not inherently bad but usually it is in this system) or now they make a shittier version of X.
Or even better (worse): they still make X nominally, but all their growth comes from over financialized bullshit related to it. Like the airlines or Starbucks making more money from financing than selling their products
They used to make X and now they make X.com
The stock market is completely divorced from material reality
Hold on I need to take out credit on my credit to pay my credit card. Yes this can go on forever, the economy isn’t real anymore.